Key Insights
- The crypto market is going through a transition phase between the bulls and bears.
- As a result, while some cryptocurrencies are rallying, others are showing signs of short-term bullishness.
- Among these are Floki and Immutable, which have great price action but low activity.
- Investors are now flocking toward Yeti Ouro because of its impressive tokenomics and real-world utility.
According to CoinMarketCap, the crypto market is cooling off. Several cryptocurrencies have continued their price movements to the upside, while others are starting to give up their gains.
Some of these are Floki and IMX, which have seen substantial declines in trading volume over the last 24 hours. Investors now appear to be taking profits and are diversifying their holdings.
One of the major cryptocurrencies these investors are flocking towards is none other than Yeti Ouro. Here’s what’s attracting investors and what’s been up with this newcomer in the memecoin space.
Floki
According to data from CoinMarketCap, Floki investors have been on a roll lately. The cryptocurrency’s price has increased by around 17% in the last 24 hours before writing.
Interestingly, it is also up by around 17% in the weekly timeframe.
This indicates that the cryptocurrency had been largely stagnant over most of the week. This time around, it is now experiencing a flash pump.
Data from Santiment also shows a steady decline in long-term holders (red area) between July and the time of writing.
This indicates that despite the ongoing rise in price, long-term holders may now be losing interest.
In essence, the current pump is led mostly by short-term holders. The interesting part about this cohort is that they tend to jump into the market in search of quick returns. They then exit again after taking a profit—thereby crashing prices once again.
Immutable (IMX)
Immutable, on the other hand, is outright bearish in the daily timeframe. It is down by around 1% over the last 24 hours, despite a 15% gain on the weekly.
This indicates that investors have already begun the profit-taking phase for this cryptocurrency.
According to Santiment data, this decline in price over the short term is reflected in the number of daily active addresses.
This decline has been ongoing since 23 September, indicating a mass exodus of investors. In essence, the cryptocurrency is likely at an important resistance zone, and traders might be looking to book profits.
Because of this, investors are flocking towards none other than Yeti Ouro.
Yeti Ouro ($YETIO)
Yeti Ouro is the newest contender in the memecoin space. It already has massive trading volume despite the problems in the rest of the market and has sold millions of tokens so far. YETIO is on the rise, raising a staggering $250,000 in just the third week of its presale.
The best part about $YETIO is that it is currently in its presale phase and is, therefore, sitting at the best place to buy. The cryptocurrency’s presale phase also comes with a generous 10% discount for early investors. The cryptocurrency is selling at an affordable $0.012 per token.
This means that everyone gets a chance to stock up on more $YETIO for less capital. So, why is this cryptocurrency so hot in the market so far? To start with, it is the native token of the incoming Play to Earn Game called Yeti Go. It is an exciting racing game that is currently being built.
Within the game (which is developed using Unreal Engine 5), players have to race opponents to the finish line in exchange for rewards. The races within Yeti Go are also exciting because they involve players trying to knock each other off the tracks.
Players also get to avoid obstacles and collect upgrades/gadgets along the way. All of this brings massive utility to Yeti Go as far as real-world utility goes.
This said, Yeti Ouro will explode in price on full launch—this explains why investors are trying to beat the buy-rush before demand gets crazy.
Remember that Yeti Ouro only has a total supply of 1 billion tokens: So hurry and get some before things get heated!
Website: www.yetiouro.io
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